MUMBAI: Smaaash, a sports-based virtual entertainment company co-owned by Sachin Tendulkar, has acquired a 100 per cent stake in SVM Bowling and Gaming, a popular bowling and entertainment format operated by SVM Private Limited.

Fractal Capital acted as the sole advisor to Smaaash for the PVR bluO and SVM deals.

The new acquisition will add 13 centers to Smaaash's blueprint in India, across Hyderabad, Mysore, Madurai, Vijaywada, Mangalore and Pune, and Smaaash will introduce its signature games at all locations.

The deal is a part of the national growth strategy, and Smaaash will now be present in 26 centers across 13 cities in India, besides the one in the Mall Of America – the largest mall in the US.

SVM's strategy in Tier B and C towns and cities is what attracted Smaaash to the proposition, and theirstrong market relationships and customer-focused approach present a fantastic geographic, strategic and cultural fit for Smaaash.

Smaaash Entertainment founder and chief imagination officer Shripal Morakhia said, “Our endeavour is to provide aspirational active experience and sports throughout India, whether it is a big metropolis or a small town. We are totally committed to “un-pause” the play button of all Indians. As consumer behaviours and expectations continue to be reshaped by experiences, we are sure that SVM's infrastructure, coupled with Smaaash's leadership in innovation will make this association unlock transformational synergies in the gaming space.

SVM chairman Vijayender Tulla said, “The gaming and entertainment business will benefit greatly from consolidation, as the scale significantly enhances operational efficiencies and brand value.

The transaction would enable us to focus more on our malls, multiplexes and medical sector businesses. I have been invited to be part of Smaaash Board."